Alphasimplex Group LLC Sells 416 Shares of Meta Platforms, Inc. (NASDAQ:FB)

Alphasimplex Group LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:FBGet Rating) by 37.9% in the 4th quarter, Holdings Channel reports. The firm owned 683 shares of the social networking company’s stock after selling 416 shares during the period. Alphasimplex Group LLC’s holdings in Meta Platforms were worth $230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barnett & Company Inc. boosted its holdings in shares of Meta Platforms by 105.0% during the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after purchasing an additional 42 shares during the last quarter. Evolution Advisers Inc. bought a new position in shares of Meta Platforms in the 4th quarter valued at about $48,000. Horan Securities Inc. bought a new position in shares of Meta Platforms in the 4th quarter valued at about $53,000. Maryland Capital Advisors Inc. bought a new position in shares of Meta Platforms in the 4th quarter valued at about $58,000. Finally, Leverty Financial Group LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at about $60,000. 65.49% of the stock is owned by institutional investors and hedge funds.

FB traded up $7.38 during trading on Friday, hitting $198.62. The stock had a trading volume of 24,524,937 shares, compared to its average volume of 38,863,792. The company has a market capitalization of $537.53 billion, a PE ratio of 15.02, a PEG ratio of 1.19 and a beta of 1.37. Meta Platforms, Inc. has a twelve month low of $169.00 and a twelve month high of $384.33. The stock has a 50 day simple moving average of $207.75 and a two-hundred day simple moving average of $268.60.

Meta Platforms (NASDAQ:FBGet Rating) last announced its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.06. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same period in the prior year, the business earned $3.30 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.

In other news, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $212.44, for a total transaction of $101,121.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Susan J.S. Taylor sold 2,272 shares of Meta Platforms stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $214.00, for a total transaction of $486,208.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,768 shares of company stock valued at $1,858,518. 13.59% of the stock is owned by insiders.

A number of research analysts recently commented on FB shares. Raymond James lowered their price target on shares of Meta Platforms from $340.00 to $290.00 in a report on Thursday, April 28th. Susquehanna Bancshares lowered their price target on shares of Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. Stifel Nicolaus lowered their price target on shares of Meta Platforms from $400.00 to $350.00 in a report on Thursday, February 3rd. KeyCorp lowered their price target on shares of Meta Platforms from $420.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, February 3rd. Finally, Argus lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Buy” and a consensus price target of $316.80.

Meta Platforms Company Profile (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:FB)

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